Leader of the Opposition, Bharrat Jagdeo has described budget 2017 as the worst he has ever seen in the history of Guyana. He says this is based on the fact that it brings the most taxes and would create more hardship for thousands of Guyanese without a single set of activities aimed at job creation.
After many hours of presentation, Finance Minister Winston Jordan, revealed budget 2017 under the theme “building a diversified green economy: delivering the good life for all Guyana.”
However, the Opposition Leader, in his post budget comments has dubbed this financial plan as a taxation budget that will long be remembered for the “dis-incentives” to private investment that will also bring untold hardships on ordinary people.
Mr. Jagdeo also posited that this budget could very well be the one that would kill the private sector.
Speaking to the new tax measures, the opposition leader explained that while the Value Added Tax (VAT) will be reduced the fact that it will now be added to the water bills and electricity bills does not bode well.
And for the new list of zero-rated items, Jadgeo said “a man importing chocolate or a rich guy importing something fancy gets his VAT reduced from 16% to 14% but poor people, and mothers, single parents now have to pay VAT on milk. This is what he has done”.
And for miners, Jagdeo says, this budget brings about many uncertainties as miners will be subjected to greater tax.
